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[b]Wall street Fear Index Hits All-...rted Territory; "Frantic Pace"

Quote
(Reuters)—The Chicago Board Options Exchange Volatility Index, Wall Street’s main barometer of investor fear, surged to new highs on Thursday, in a sign investors remain cautious and anticipate more market turmoil.
The widely-watched VIX vaulted to an unprecedented high of 81.17 before retracing to 78.62, up 13.68%.
“We are seeing the VIX enter new historic levels as investors and traders continue to seek out protection and hedges at an apparently more frantic pace,” said Scott Fullman, director of derivative investment strategy at broker-dealer WJB Capital in New York.
The index blew past last Friday’s record highs of 76.94 and is now in uncharted territory based on the modern VIX format which only goes back to 1990.


Last edited by numan; 10/17/08 09:35 PM.